I did not install a texture library with Corona 3. Do I need to or does it use the textures from the blend file. Here are my settings in user preferences.
You don't need texture library, just textures from chockofur archive
Ok if you start new file does render corona works for you?
Your previews are broken because you must use corona 1.6 for material preview, there is setting for that in preference, you must get standalone 1.6 for material preview
Preview materials with textures are broken in Corona above 1.6, but it didn't affect render with f12, it should work
And why are you using so complicated path for Corona? just put in c:\program files\Corona 3 or something